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Property profile & analytics
FOR LEASE
Industrial properties
171 Forbes Blvd, Mansfield, MA 02048
Entity Owned
26-yr Hold
Free & Clear
Property ID
US38-0328712
For Lease
1 / 2
$3,640,000
171 Forbes Blvd, Mansfield, MA 02048
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1975
Construction
STEEL FRAME
Total area
30,537 SF
Lot
3.9 ac (169,884 SF)
APN
MANS M:044 B:213
UPID
US38-0328712
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
New Age Micro, LLC Engineer
-
GM Technical Service College High School
-
American Health Associates Medical Laboratory
-
malcolm plumbers mansfield ma General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.60M
Comparable Approach
Comparable
$3.66M
Blend (final)
Blend
$3.64M
Owner & transaction history
Rje LP · 26 yrs held
Rje LP
since 1999
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.4M
+56.9%
Retail stores
$5.0M
+44.7%
Apartment house (5+ units)
$4.9M
+41.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mansfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mansfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,980,000
6.5%
$4,595,000
7%
$4,270,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,465,000
Current use
AUTO REPAIR, GARAGE
$5,435,000
Change: +57% · Conversion: Easy
RETAIL STORES
$5,010,000
Change: +45% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$4,890,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$4,665,000
Change: +35% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,665,000
Change: +35% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,055,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$3.64M
Range $3.28M – $4.00M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$119 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$63,200
Tax year 2024
Assessed value
$3,314,100
Assessed 2024
Previous assessed
$3,314,100
+0.0% YoY
Effective rate
1.91%
On assessed value
Assessed land
$861,500
Assessed improvement
$2,452,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1975
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
5
Total area
30,537 SF
Lot
3.9 ac (169,884 SF)
APN
MANS M:044 B:213
UPID
US38-0328712
Jurisdiction
MANSFIELD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$5.4M
RETAIL STORES
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
OFFICE BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$4.1M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
5
Lot
3.9 ac
Current owner
From public records · entity-resolved
Rje LP
Entity
Free & Clear · 26 yrs held
Mailing address
116 FLANDERS RD STE #2000, WESTBOROUGH, MA 01581-1072
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2020
—
Forbes 171 LLC
—
Deed
related
$2,000,000 · Carruth Partners LLC
Nov 12, 1999
$2,700,000
Rje LP
Equitable Ins Society
Grant Deed
—
—
—
Forbes 171 LLC
—
Deed Of Trust
related
$2,000,000 · Carruth Partners LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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